‘One of the most active firms in the area of project finance’, with the ability to ‘provide a keen understanding of what’s going on in the market at any time’, A&O Shearman advises marquee industry players alongside a wealth of financial sponsors and asset managers on a broad range of renewables and energy transition assets, as well as large-scale infrastructure projects that includes airport expansion work, toll road developments, and university utility ventures – amongst others. Los Angeles’ Dorina Yessios heads up  the US projects, energy, natural resources and infrastructure practice and is lauded for her ‘ample experience in Latin American markets’. Scott Cockerham joined the Washington DC office from Orrick, Herrington & Sutcliffe LLP in 2023 to add further tax equity financing and tax credit transaction expertise to the group, with a strong focus on renewables work, while the Los Angeles-based Matthew Nesburn‘s broad skillset is frequently utilized by clients engaged with early stage energy projects. Jennifer Wnek is a key figure in New York for renewables financings, with recent work highlights heavily featuring large-scale solar portfolios. Infrastructure specialists Kent Rowey and Jillian Ashley operate out of New York and Los Angeles respectively and have extensive experience counselling on the full asset lifecycle, and boast a number of significant projects in their book of work that includes the JFK New Terminal One PPP and the SH 288 toll road in Texas. New York’s Nisim (Niso) Matari is a crucial supporting presence on infrastructure matters relating to lenders, sponsors and investors, while the Washington DC-based Michael Sykes has a growing practice primarily focused on federal income tax issues. John Marciano left the practice in October 2023. Sam Kamyans left the firm in June 2023, while Greg Lavigne departed in October 2023. Following the merger of Allen & Overy and Shearman & Sterling, the practice has further expanded its capabilities. Shearman & Sterling LLP‘s client roster comprises of a host of large-cap private sponsors, multinational lenders, and government agencies who engage the firm for representation in big-ticket, consequential PPP transactions – from the structuring, procurement, development and financing. Key components of the firm’s varied work include transport and aviation projects, domestic and international desalination facilities, microgrid developments, and university campus and utility upgrades. The practice is chaired by the highly experienced Cynthia Urda Kassis, who advises on complex cross-border energy and infrastructure projects with the capabilities to preside over bespoke financing structures. Paul Epstein is highly active and is a key name for major government agencies such as the US Department of Transport, the U.S Environmental Protection Agency, and the US Department of Energy, advising on financing and development issues. Mona Dajani  left the firm in December 2023, whereas Jorge Medina departed in January 2024 and former practice co-head Daniel Sinaiko left in April 2024.

Frequently sought out for its expertise in debt and equity energy project financing, Akin operates as lenders counsel to commercial banks, investment banks, and private equity outfits and borrower and corporate counsel to global energy producers and developers. Despite deep roots to the traditional power sector, the group is increasingly engaged with a strong body of work in the energy transition space, advising on solar, wind, battery storage and capture capture ventures along with the associated tax credit issues. Helming the practice from Houston, Matt Kapinos is able to cover the entire lifecycle of a project, overseeing the acquisition, financing, development and refinancing piece. Follow co-lead Ike Emehelu is based in New York and is chiefly recognised as a key advisor to lenders and investors engaging with renewable projects, whereas final team lead Zachary Wittenberg focuses on energy-related corporate matters from New York. Washington DC’s Shariff Barakat and Sam Guthrie are highlighted for their tax equity financing know-how, whereas Hayden Harms focuses on commercial contract negotiations and agreements from Houston. Battery storage finances have increasingly become a core part of LA attorney Dan Lynch‘s broad practice. New York’s Brad Warner represents sponsors and investors.

A firm that provides a ‘perfect understanding of client needs’ and a ‘deep knowledge of the business and market situations’, Baker Botts L.L.P. is dual-equipped to advise on a variety of debt and equity transactions as well as sophisticated tax equity financings. The group is witnessing an increased flow of both domestic and cross-border mandates across a number of different sectors such as oil and LNG, clean fuels, renewables and electric transmission, working with an esteemed roster of clients that includes multinational power producers and global asset managers. Dino Barajas spearheads the group from San Francisco who compliments his financing prowess with expert asset knowledge and an extensive cross-border practice that particularly focuses on Latin American projects. New York’s Ellen Friedman works with both developers and sponsors on renewable and energy transition ventures that includes, but is not limited to, solar, wind and battery storage projects as well as blue hydrogen and carbon capture and storage facilities. Houston-based Michael Bresson‘s federal income tax expertise ensures he is frequently sought out by a wealth of investors for their tax equity financing transactions, whereas New York’s John Papaspanos, while also possessing sharp tax acumen, has engaged with a breadth of M&A and debt financing structures over the past twelve months. Also based in New York, Frank Schoen is highlighted for his project finance, leveraged finance and acquisition finance work that spans both conventional and renewable energy sources. Vladimir Fet has advised on multiple high-value financings for various large sponsors and energy providers, operating out of San Francisco.

The projects team at Ballard Spahr LLP ‘brings outstanding insights into the nuances and intricacies of extremely complex contracts such as public private partnerships’, acting as lenders, developers and particularly government agencies on major transport developments that include toll roads, bridges, interchanges, and railway lines and stations, as well as university campus utility ventures, breakwater facility expansions, and inner-city redevelopments – amongst others. On the energy front, the team predominantly focus on providing financing, regulatory and commercial advice to energy players and investors engaging with energy transition assets, while also boasting a substantial capital markets offering. The ‘truly incredible’ John Smolen and Steve Park co-head the practice from Baltimore and Philadelphia respectively, with the duo highly praised for their ‘immense amount of experience from other projects’ and ability to counsel from a variety of perspectives. Philadelphia duo Patrick Gillard  and Randall Towers are the other two practice leads who focus on project finance transactions in the energy space, often representing lenders, borrowers and underwriters on a range of debt instruments. Donna Brady operates out of Los Angeles and largely concentrates on transport and social infrastructure and is routinely sought out by state agencies and toll operators for toll technology procurements. New York’s William Estes and Washington DC’s John Wheatley bring further design-build and P3 experience to the fore and frequently collaborate together on major transport constructions. Bruce Johnson sits in the Las Vegas office and is well regarded for his adeptness in tax equity financing.

With a strong focus on the energy and infrastructure space, Bracewell LLP advises on a range of sophisticated financing structures relating to large-scale conventional and renewable projects across the United States and beyond, working for a roster of best-in-class energy players as well as multinational investment banks and financial services institutions. The team also demonstrates wider capabilities in negotiating and drafting a swathe of commercial documents as well as acting as tax counsel on renewable energy builds. Alan Rafte and Thomas Tomlinson co-lead the practice out of Houston and are routinely engaged with energy industry companies and private equity outfits, with the latter particularly noted for his extensive understanding of the oil, gas and hydrocarbons, and has been a chief lead on carbon capture facilities and natural gas conversion projects. New York’s Nicolai Sarad spearheads the firm’s infrastructure offering and works with sponsors, lenders and pubic agencies on PPPs pertaining to aviation, transport and social infrastructure, often advising in Latin America. Jeris Diana Brunette, who also operates out of New York, has been active on a number of debt financings for combined cycle power plants and LNG projects over the past twelve months, and is joined in Manhattan by Fernando Rodriguez Marin who is another key infrastructure name and who has a deep PPP understanding.

Butler Snow LLP‘s deep bench of public finance advisors act on state and county soft and hard infrastructure builds. The group are a frequent port of call for many urban development authorities, public institutions, most notably hospital, schools and art centers, and energy developers for bond, borrower and corporate counsel. Added to this, the firm’s tax credits group is regular feature amongst practice matters, supporting clients on federal New Markets Tax Credits and state New Markets Tax Credits – amongst other tax issues. Thad Varner, Blake Sharpton, and Gregg Gumbert spearhead the team from Ridgeland, Macon, and Memphis respectively. In recent highlights, Thad has been active on port redevelopments, Blake on housing and medical builds, and Gregg on energy, manufacturing and logistics facilities. Also based in Ridgeland, Michael Russ and has been routinely instructed as bond counsel to the Mississippi Business Finance Corporation, whereas John England and Anna Watson are well-reputed for their tax advice. Birmingham’s Caitlyn Burchfield, Ridgeland’s Jetson Hollingsworth, and Memphis’ Michael Bradshaw are also recommended.

Clifford Chance combines the firm’s extensive international footprint with embedded project finance and development expertise to advise on a impressive portfolio of energy and infrastructure projects that span the Americas, Africa and Asia. Tax equity financings and tax credit transactions are a significant part of the workload, particularly with regard to battery storage, wind and solar projects, and the firm has also demonstrated high levels of activity engaging with carbon capture ventures. Furthermore, in the LatAm region, the group have pivoted towards refinancing existing brownfield projects with bonds, working closely with the capital markets branch of the firm. Lori Ann Bean ‘s leadership straddles both energy and infrastructure offerings and is a key representative for governmental lenders, working closely with the US Department of Energy and the US International Development Finance Corporation. Fabricio Longhin‘s focus is firmly centered on Latin America where he has overseen a number of significant transport-related mandates, often working alongside Jessica Springsteen who has also counselled a range of European lenders and export credit agencies on domestic renewable projects. Greg Jehle and Lauran Smith are further names of note due to their work with the DOE, while Alberto Haito continues to represent both banks and financial sponsors across a spectrum of energy and infrastructure developments. All practitioners operate out of Washington DC.

Transport projects remain a flagship component of the team’s work at Gibson, Dunn & Crutcher LLP, advising on the design, financing and maintenance of toll roads, highways and bridges, many of which are PPPs. A wider book of work includes marquee infrastructure ventures, most significantly the JFK Terminal One expansion project, as well as university campus utility redevelopments and water, energy transition, and digital infrastructure builds. Furthermore, Meridiam Infrastructure, John Laing, and Macquarie Asset Manager are some of the high-end investors and developers who regularly call upon the team. Team head Tomer Pinkusiewicz ‘is a super-complete infrastructure lawyer’ and is widely lauded by clients for his strong business acumen and extensive capabilities regarding infrastructure financing and development. Anita Girdhari‘s far reaching practice is largely concentrated on PPPs, handling transport, digital, social and waste-to-energy infrastructure assets, which is similar to Toren Murphy who also possesses deep-founded PPP knowledge that centers on transportation infrastructure. All individuals act out of New York.

Hunton Andrews Kurth LLP provides a top PPP offering, adopting a multi-sector approach for a wide array of lenders, equity sponsors, procuring authorities and sub-contractors. Over the past twelve months the firm has been instructed on landmark digital infrastructure projects, interstate and intercity railway ventures, major city subway redevelopment programs, and sports and entertainment venue builds, as well as demonstrating continued excellence on highway and toll road P3s which remain a cornerstone feature of the practice. On the energy front, the team has pivoted heavily towards solar and battery storage mandates where they are increasingly utilized for their stellar tax equity financing expertise, and retains its position as a key advisor to government agencies, state-owned energy companies, and industry players engaging with nuclear assets, with the firm active on both domestic and international matters. John O’Neill leads the practice on the infrastructure P3 front from Richmond and presides on both the project development and public finance side of transactions, while Jeffrey Schroeder  is the head of the energy team and represents clients across tax equity investments and tax credit transactions from Washington D.C. Also based in Washington DC, David Horner  advises at the forefront of the P3 space and is a go-to figure for lenders, developers and public bodies for their most consequential projects. Richmond’s Laura Jones and Washington DC’s Geoffrey Lorenz are highlighted for the breadth of their financing expertise, with the duo consistently handling complex project financings and tax equity transactions, chiefly focusing on renewables work, whereas George Borovas is the key figure for nuclear work and operates from the firm’s New York office. Robert McNamara, previously an oil and gas specialist, now lends federal income tax counsel to renewable energy players from Houston. Andrej Micovic is based in Miami and oversees a number of infrastructure ventures on the East Coast, often working closely with associate Forrest Murphy, while Richmond’s Ryan Pedraza has been a key supporting presence across an array of practice mandates, particularly in the transport sector. New York’s Jean Liang, who was promoted to counsel in August 2023, has a practice that encompasses conventional and energy transition sources of power.

King & Spalding LLP‘s ‘pulse on the market’ allows it to advise on a multitude of complex, multi-faceted energy projects, acting for leading energy players, lenders and financial sponsors. Brownfield investments and acquisitions form a key component of the group’s work, yet wider mandates include refinancing instructions, bankruptcy issues, and acquisition financing. The team has taken steps to concentrate its strong position in the market with a growing body of tax equity financing activity, including overseeing novel tax equity bridge debt transactions. Sitting at the helm of the group is Brandon Dalling who possesses a multifarious practice and whose rent highlights include big-ticket acquisition financings, revolving credit and term loan facilities, and debt and tax equity financings. Brandon regularly works alongside Tristan Pelham Webb who continues to be a highly active presence in the group and demonstrates proficiency advising on both conventional and renewable asset types and across a broad range of financing structures. Other key lawyers include Ayesha Chatterjee, who is often instructed by private credit funds and private equity sponsors, as well as Daniel Tsarevsky, who is particularly skilled in acquisition financing. All practitioners operate out of New York.

 

Advising some of the market’s largest asset managers, financial sponsors and pension funds, Kirkland & Ellis LLP covers a variety of transaction types and assets. Infrastructure engagement focuses heavily on the digital space, with the team advising on the debt and equity financings for data center and fiber ventures, whereas on the energy front the firm has a broader ambit that includes, but is not limited to, wind, solar, hydropower, gas, hydrogen and battery storage. Rohit Chaudhry leads both sides of the firm’s project finance offering and has a proven track record on solar, LNG and fiber mandates, whereas Roald Nashi, who is also equally competent across both sector strands, has predominantly focused on energy transition work such as renewables, anaerobic digestion plants and carbon capture facilities, as well as data centers. Another key individual who has a practice concentrated on energy transition work, Robert Eberhardt is especially well-regarded for his onshore and offshore wind capabilities, while Tatiana Monastyrskaya is a key contact to Blackstone, handling their development and financing instructions. Michael Masri brings a wealth of tax equity financing and tax credit transactions expertise to bear on a number of mandates, and Tatiana Monastyrskaya continues to be a critical advisor to LNG and data center projects. Olivia George is well-versed on a wide array of project finance transaction structures. Tax specialist Sam Kamyans joined the team from Allen & Overy LLP in November 2023. Chaudhry, Nashi and Kamyans operate out of Washington DC, whereas the rest of the team sit in New York.

Latham & Watkins LLP is well-positioned to advise on energy transition mandates, with a particular focus on battery storage, solar and wind financings. The firm has a balanced sponsor and lenders focus, acting for both premium banks and financial services institutions and multinational energy corporations, overseeing both debt and equity financings. LNG also continues to be a large part of the firm’s workload, handling the development and financing piece of landmark facilities such as the Port Arthur LNG Phase 1 project. On the infrastructure front, the group stands out for its formidable engagement with digital assets, often instructed on major US fiber rollouts, microgrids, and battery energy storage facilities. Project development and financing specialist Jeff Greenberg helms the group on both sides of the energy and infrastructure space and is a key adviser to some of the world’s largest financial institutions such as Credit Agricole and MUFG. Jonathan Rod and Jason Webber offer particular experience relating to LNG projects, while Matthew Henegar‘s practice spans renewables, conventional energy, and infrastructure assets. Gianluca Bacchiocchi and Guido Liniado have an extensive international footprint that is predominantly centered on Central and South America where they work with a range of sponsors, underwriters and developers on project financing and capital raises. Chirag Dedania‘s data center expertise ensures that he is sought out by numerous established corporates and deal sponsors, whereas Kelly Cataldo and Omar Nazif  are particularly well-regarded for their adeptness in renewables and battery storage mandates. A popular choice for private equity sponsors, Warren Lilien is equally proficient across energy and infrastructure matters and has a strong record on gas pipeline instructions. Annelise Karreman has a growing practice in the renewables sector, working on both project financings and tax equity financings, whereas Cameron Lyons has minerals, metals and chemicals work as part of a broad portfolio of work. Renewables expert Daniel Sinaiko joined the team from A&O Shearman in April 2024. The team operates out of New York.

Mayer Brown remains active on behalf of premium lenders, developers and governmental bodies in a near unrivalled volume of high-end PPP mandates, demonstrating activity on some of the country’s largest interstate transportation projects, major airport developments, and university renovation and facility upgrade ventures. On the energy front, the firm is well placed to counsel on the full breadth of financing transaction structures, engaging with both the refinancing and further capital injections of operational assets as well as financing greenfield and early stage ventures. Tax equity and tax credit expertise is a strong point of the team’s offering, guiding investors through the tax equity financing of renewable projects as well as overseeing first-of-its-king PTC tax credit transfers. Paul Astolfi and Joseph Seliga lead the energy and infrastructure offerings respectively, with the former frequently instructed by financial sponsors and financial institutions on renewables financings, and the latter highly respected for his wealth of expertise on PPPs and experience counselling on each side of a project. David Narefsky, ‘has deep experience of public agencies’ and has a particular focus on rail and transit matters, while Stephanie Wagner handles a varied stream of multi-state projects with the ability to explain ‘complex issues to clients‘. Mitch Holzrichter is trusted by governments, developers and sponsors for his innovative approach to P3 mandates and has advised on first-of-its-kind long-term arrangements and revenue risk concession deals on landmark infrastructure developments. Houston’s Robert Goldberg is highly regarded in the market for his debt and tax equity financing expertise in the renewables space and is frequently approached by financial sponsors for repeat instructions, whereas Daniel Kiely is chiefly recognized for his tax-focused advice and operates out of New York. Katy McNeil predominantly focuses on renewables and cleantech matters. Nicholas Vallorano was promoted to partner in 2023 and provides valued transport knowledge to key client instructions. Eric Pogue, Samantha Leavitt, Amanda Rosenberg and Jeffrey Davis left the firm in mid-late 2023. The team operates out of Chicago unless otherwise stated. Nadav Klugman left the firm in April 2024.

McGuireWoods LLP delivers astute project finance expertise amongst the wider M&A, development, and tax work that an array of infrastructure funds, energy operators, and utilities seek assistance with. Renewables continue to be the main focus of the group, with both onshore and offshore wind, solar, and associated battery storage facilities regularly at the fore. The practice is led by tax specialist Durham McCormick; Brian Kelly, whose practice balances M&A, project development, and project finance instructions; and Brennen Keene, who has been predominantly active on wind and solar projects over the past twelve months. Timothy Callahan has overseen a variety of financing structures in recent work highlights, including portfolio financings, collateralized construction-term financings, back-leveraged financings, and refinancings, for the most part in the renewables space. Doug Lamb has a far-reaching practice that sees him handle infrastructure and PPP mandates, commercial agreement negotiations and reviews, and project financing, including tax credit work. Keene and Lamb operate out of Richmond, whereas McCormick and Kelly sit in the Houston and Baltimore offices, respectively. Callahan is based in Chicago.

Milbank is well positioned to act on a host of domestic and international project financings, representing high-end banks, financial services providers, and financial sponsors on both early stage and operational assets. Infrastructure mandates form a substantial section of the firm’s workload, with impressive activity in the aviation and shipping sectors demonstrated over the past twelve months, but the team’s primary efforts focus on power and energy projects, where the group represent government lenders, debt and equity investors, and developers on both traditional and energy transition ventures. Exemplifying this in particular is practice head Daniel Bartfeld, whose expertise straddles oil and gas, digital infrastructure, transport and logistics, and renewables, which is similar to co-head Daniel Michalchuk who also frequently engaged on both energy and infrastructure mandates. The highly experienced William Bice is able to provide project finance, acquisition finance, M&A and development expertise and is therefore retained by clients throughout the entire project lifecycle, while Jeffrey Leider lends project finance and structured finance acumen to marquee lenders and sponsors, with notable activity in conventional power projects.  Javad Asghari is principally focused on the firm’s energy offering, possessing a cross-border practice that particularly covers the Americas and Australia and routinely sees his advise on utility-scale renewable projects – amongst others. Sean O’Neill, who was promoted to partner in 2023, has been active on aviation-related financings and investments over the past year, whereas Kyle Smit has been engaged with natural-gas projects. All individuals are based in New York except Javad, who operates out of Los Angeles.

 

Morgan, Lewis & Bockius LLP offers a strong bench of advisors who are ‘excellent collaborators’ and whom possess the ‘ability to provide market perspective on transactions and negotiating positions.’ The firm handles a diverse stream of financing transactions that includes debt, equity and tax equity financings as well as refinancings and acqusition financings for a wide roster of developers, investors and sponsors particularly focused on wind, solar and battery storage matters. Team lead Elizabeth Hanigan is based in Chicago and covers the transactional waterfront of renewable energy assets, whereas fellow co-head and Washington DC attorney Stephen Spina is a go-to for utility clients. Neeraj Arora has been active on construction loan financings, acqusition financings, and tax equity financings over the past twelve months, sitting in the Los Angeles office. Laura Neumeister Wright splits her time between New York and Chicago and has presided over novel novel production tax credit agreements and sustainability-linked credit facilities as part of a formidable book of renewable energy mandates. Boston’s Amy Maloney continues to be a prominent name in the practice and for sponsors, lenders and developers and has been a leading name on the firm’s large-scale gas-fired energy projects.

Demonstrating cross-border capabilities and a depth of expertise across a wealth of financing transactions, Morrison Foerster advises major organisations including the US International Development Finance Corporation (DFC) and the Inter-American Investment Corporation who seek out the firm's substantial international projects that span Africa, Asia and Latin America. Greg Smith is one of two team heads and possesses a diverse book of work that includes renewable energy, digital infrastructure and social infrastructure financings, as well as overseeing debt investments into private equity and impact funds. Second group lead Ann Lilienthal is another prolific agency lender specialist and has a similarly diverse financing practice, cover a range of debt and equity transactions, taking the lead on a number of projects based in Africa, the Caribbean, and Asia. Conrad E. Proulx has been a crucial supporting presence on the full spectrum of departmental matters, building up a formidable book of work. All individuals work in Washington DC.

 

 

Nixon Peabody LLP‘s team of public finance lawyers possess ‘relative expertise in subsets of the infrastructure field’, resulting in a ‘skilled and well-balanced process’ during the wide breadth of PPPs they routinely engage in. A comprehensive sector focus across infrastructure results in the group acting for public and private sector clients for the procurement, financing and development piece, and also possess the ability to handle tax-related issues. The group is headed up by Virginia Wong who is particularly well-regarded for her bond counsel and has multi-billion dollar debt restructurings and tax-exempt and taxable municipal financings as part of a wide body of work. Dan Deaton predominantly acts as bond, disclosure and underwriter’s counsel on transportation matters, while Roderick Devlin offers significant experience advising the lenders to shortlisted bidders for substantial infrastructure builds. John Hutchinson is routinely sought out as lead tax counsel on P3 ventures and has been active on port developments. Chris Reitzel is another key public and project finance lawyer, commonly positioned in complex, multi-faceted projects as underwriter or bond counsel. Rudy Salo is also recommended. Deaton and Salo operate out of Los Angeles, whereas the rest of team operate from New York.

 

A ‘very knowledgeable’ team that combines ‘experience and competence coupled with flexibility’ to service a wide-client base, Norton Rose Fulbright handles high-end project finance and development work, demonstrating activity on large scale battery storage ventures, first-of-its-kind tax equity instructions, and multi-billion dollar digital infrastructure and power transmission projects. A strong lead arranger and lender practice is coupled with an increasing sponsor focus, working with both domestic and international infrastructure funds and asset managers. Bridge, toll road, and highway PPPs are intermixed with landmark projects such as the representing the Port Authority of New York and New Jersey on the procurement of a design-build agreement for JFK Airport, as well as a strong body of utilities-focused work. Washington’s Keith Martin and New York’s Ben Koenigsberg co-lead the energy practice, with both practitioners noted for the breadth of their asset understanding and the former also highlighted for his tax expertise, while New York’s Todd Alexander’s eminent reputation in the energy sector continues to attract an array of instructions from lenders and investors engaging with both traditional and renewable assets. Douglas M. Fried spearheads the firm’s infrastructure offering from New York and is equally well versed acting for the sponsors, developers and procuring body across a range of PPP projects, often working alongside fellow co-leads Douglas B. Buchanan who is similarly proficient across PPPs and splits his time between New York and Vancouver, and Jacob Falk, a Washington DC-based advisor who has helmed major inner-city transport redevelopments over the past twelve months. Also based in Washington DC, Noam Ayali has been the chief advisor to a consortium of arrangers engaged with the Champlain Hudson Power Express transmission line. Becky Diffen handles renewable energy, storage and transmission projects from the Austin office, while Washington D.’s Hilary Lefko provides long-standing tax equity financing expertise to an array of mandates. Rhodri Evans brings experience to bear beyond just the procurement and financial closing of infrastructure ventures, often counselling through the development and completion stage, and operates out of Seattle. Austin’s Luke Edney showcases prolific activity across the full spectrum of energy matters, with particular expertise on development and procurement work. Deanne Barrow, who acts out of San Francisco, is a key feature on the firm's energy transition and clean tech mandates.

The projects team at Orrick, Herrington & Sutcliffe LLP regularly handles the private and public sector side of complex, multi-faceted mandates, advising on landmark inner-city developments, pan-American and interstate infrastructure builds, and energy transition and digital asset ventures. Key marquee projects include acting for the Metropolitan Transportation Authority regarding New York City’s subway station redevelopment P3 programs, advising the developers on the PennDOT Pathways Major Bridge P3, and counselling the New York’s Department of Design and Construction on a variety of design and build contracts. These matters sit alongside an extensive book of early and late stage financing work that spans digital fiber roll outs, hospital builds, and toll-road developments, to name a few. On the energy front, the team is well-positioned to act on on a broad range of debt and equity financing structures for an enviable roster of lenders, borrowers and sponsors. Furthermore, the group boasts an impressive track record in the tax equity space, engaging with solar, wind and stand-alone battery storage facilities. Team lead Louise Gibbons is reputed for the depth of her expertise regarding renewables and energy transition assets, regularly overseeing project finance and tax equity transactions, whereas fellow practice heads Blake Winburne and Dahl Thompson spread their focus across M&A, joint ventures and financing, often working with private equity outfits and strategics. Young Lee and Daniel Mathews are the leading figures in the firm’s infrastructure practice and together are chiefly recognized for their formidable reputation in the P3 space, often acting on complex, consequential projects for an array of public and private parties. Adam Griffin is instructed by both energy developers and investment funds for their energy project financings, whereas Christopher Moore and Wolfram Pohl are critical to the team’s tax equity and tax credit transfer offering and as such as focused on energy transition work. Victoria Boyne combines experience in both fields to advise on debt and tax equity financings in the renewables space as well as serve a stellar client roster on infrastructure P3 projects, from traditional to more novel asset classes. Matthew Neuringer also utilizes specialisms in PPP and project finance to comprehensively advise on premium ventures, adding roads, rail, university social housing, and microgrids instructions, amongst others, to an already extensive book of work over the past twelve months. Thomas Glascock and John Donaleski provide further financing capabilities to a range of traditional and renewable energy builds, with the latter also often engaged with infrastructure projects. Ross McKinnon joined from Ashurst LLP in 2023 and brings P3 expertise, whereas John Eliason, who joined from Greenberg Traurig LLP in 2023, advises on hybrid deals. Vincent Casey left the firm to practice in-house at a government agency. Gibbons, Pohl, and Glascock operate out of San Francisco, while the rest are located in New York.

Helmed by the heavyweight duo of Gregory Tan and Robert Freedman who possess ‘both strong commercial and legal knowledge’, Paul Hastings LLP has a sponsor-driven energy and infrastructure practice that handles a wide array of financing structures, from leveraged finance and private placements to complex tax credit transactions. The firm also acts for an enviable roster of commercial banks, highlighted by its continued work with MUFG as lenders counsel in relation to both traditional and renewable assets. Freedman has demonstrated prolific activity on large-scale, multi-faceted solar developments over the past twelve months, approaching an array of transactions as from the lenders and noteholders, administrative agent and sponsor standpoint. Tan, who has also has an extensive energy practice that see him engage with assets across North and Latin America, has been the chief lead on infrastructure mandates, overseeing university campus and utility developments and LNG import terminals – amongst other instructions. Both practitioners operate out of New York.

Simpson Thacher & Bartlett LLP is well positioned in the market to advise a range of premium lenders and sponsors on financings to help multi-national energy players execute their strategic growth plans, advising on sustainability-linked term loans, construction term loan facilities and revolving credit facilities, as well as project specific tax credit financing. Wider work includes counselling global asset managers and private equity outfits on acquisition financing matters and representing purchasers in multi-billion dollar capital markets transactions. With deep experience of the market, David Lieberman leads the practice and possesses a multifarious practice that spans M&A and financing work for leading players active in traditional, renewables and energy transition and digital infrastructure. Matthew Einbinder, whilst chiefly recognized as a trusted advisor to lenders, has also been active on structured investment mandates, including working with Apollo on significant capital commitments. Group lead Breen Haire has established strength on private equity transactions, and Martha Kammoun leverages previous in-house infrastructure fund expertise to advise sponsors across an array of transactions. Amy Beller is also recommended and boasts a wide-encompassing sponsors and lenders practice. Katy Lukaszewski joined from Sidley Austin LLP in September 2023 and Gabriel Silva joined from Vinson & Elkins LLP in November 2023, with the duo bringing further oil and gas and digital infrastructure capabilities to the firm respectively. The team operates out of Houston, with the exception of Kammoun, Beller, and Silva who sit in the New York office.

Splitting its acute energy and power advisory services across finance, development and commercial counsel, Skadden, Arps, Slate, Meagher & Flom LLP has a strong bench of practitioners situated in Washington DC, able to cover the full gamut of asset types and instructions. The team has advised on multi-billion dollar investment stakes, power purchase agreement negotiations, and construction, term and working capital financings as part of a wide body of work that includes marquee conventional, renewable and digital infrastructure companies and projects. Global head of the firm’s projects group Lance Brasher‘s practice spans M&A and financing, with highly valued tax equity financing expertise being particular crucial to the team’s strong flow of renewable energy mandates. Paul Kraske, who also possesses a broad practice, particularly focuses on regulatory and commercial issues relating to the development and operation of energy assets, with close engagement with transmission lines and pipelines in recent months. Aryan Moniri has a strong lenders and borrowers practice and is well equipped to advice on a wide range of financing structures, while Palo Alto’s Sean Shimamoto brings further tax specialisms.

 

 

Vinson & Elkins LLP predominantly focuses on project finance and development mandates in the energy and power sector, showcasing impressive asset engagement that includes, but is not limited to, minerals, oil and LNG, solar, wind and battery storage, as well as hydrogen and carbon black production facilities. The team has a balanced workload acting for lenders, sponsors and borrowers, and are regularly sought out by some of the globe’s most prominent multinational investment banks and financial services groups. The ‘professional and commercial’ Eamon Nolan leads the team out of New York and is noted for his ‘strong experience in debt financings of renewables transactions’. Michael Joyce co-leads the group out of Los Angeles and has a similarly renewables-focused practice, and has been the chief figure on some of the largest solar portfolio financings in the firm’s book of work. Asset finance specialists Sean Moran and Aaron Prince are key team members based in Austin and New York respectively and are frequently called upon by a host of investors and sponsors. Lauren Collins continues to establish her reputation in the market for advising on tax-related project finance matters, often acting on cutting-edge, first-of-its-kind deals, and sits in the Los Angeles office alongside fellow tax equity financing professional Josh Heideman.

Providing financing advice on a litany of projects and noted for the scale of its cross-border practice, White & Case LLP continues to be a dominant force in the energy and infrastructure market, with a strong bench of advisors well-geared to act across a range of debt, equity and hybrid structures, as well as P3s. Marquee energy project highlights include ATVM loans for lithium-ion battery resource facilities, stand-alone battery storage financings, and bridge term loans for biorefineries, green hydrogen and ammonia projects, and electric vehicle battery ventures. On the infrastructure side, the firm handles a number of of transport, social and digital-related greenfield and brownfield projects, with the team able to act as counsel on the bidding, financing, and development side of ventures including JFK International Airport, Los Angeles International Airport, and São Paulo’s metro system. Leading these substantial infrastructure mandates and the practice as a whole is Dolly Mirchandani, one of the most pre-eminent infrastructure lawyers in the market and who combines long-standing P3 knowledge alongside the ability to advise on first-of-its-kind private investment and finance structures across a range of traditional and novel infrastructure projects. Working closely with Mirchandani is Evelyn Balassiano who provides counsel to an impressive roster of infrastructure find, commercial banks and institutional lenders. Elena Millerman leads the firm’s global project development and finance offering and is chiefly recognized for her extensive debt and equity financing knowledge, active on both conventional and renewable energy assets. In Miami, the head of the firm’s Americas energy, infrastructure, project and asset finance practice Sean Goldstein focuses on energy and infrastructure projects in Latin America. Nandan Nelivigi has overseen mezzanine credit facilities, senior construction and term credit facilities, bridge loans, and green financings relating to a plethora of asset types. Jeffrey Davis joined the practice in March 2023 and brings extensive tax experience from his tenure at Mayer Brown, while infrastructure investment expert Nadav Klugman, also formerly at Mayer Brown, joined the team in April 2024. Former practice co-head Christopher Richardson left the practice in March 2024. All listed members of the team are based in New York unless otherwise mentioned.

Winston & Strawn LLP has ‘a large team of lawyers for each specific area of expertise’ that are able to ‘collaborate to find the best possible solutions in challenging transactions’. Whilst the firm has a prominent position as a premium advisor to lenders active on a litany of energy and infrastructure projects, wider work includes advising institutional investors on major sports stadium redevelopments and guiding developers through the design, financing and operating of central utility plants. Energy mandates have centered on renewables and battery storage instructions that have involved a wide array of financing structures, while infrastructure mandates span multiple sectors, most significantly sport, transport and telecoms, often with an impressive cross-border aspect. Mike Pikiel and Alan Hoffman spearhead the practice on both fronts, with the former highly regarded for his P3 knowledge and the latter as a go-to in the market for sports-related finance and development work. A key figure for developers, operators and institutional investors, Rich Shutran sits as the third energy practice head, while Miami’s Richard Puttré joins the leadership team on the infrastructure side and is notably focused on the energy-related logistics and transport matters, covering projects in both North and Latin America. The Los Angeles-based renewables specialist Laurae Rossi is another key figure of note and leads a number of the firm’s most consequential debt financings, whereas Jason Goldstein and Jason Hellwig add further sports capabilities to the group. Senior associate Dan Shapiro has built a formidable book of work through his supporting role on an impressive breadth of practice matters. All practitioners are based in New York unless otherwise stated.